The long-running pitch competitors for Alabama startups is now in search of entrepreneurs with a social imaginative and prescient.
Purposes at the moment are open for Alabama Launchpad: Social Affect Competitors by way of Sept. 15. A partnership between the Financial Improvement Partnership of Alabama and the Alabama Energy Basis, the social affect competitors is open to candidates who want to make a constructive affect on society, in addition to a revenue.
To participate, click here.
A protracted-running program of the EDPA, Alabama Launchpad provides entrepreneurs nondilutive funding and one-on-one mentorship with enterprise consultants.
Finalists will advance to a pitch competitors with a mixed prize of $75,000. Alabama Launchpad has two tracks for finalists – the idea stage for pre-revenue corporations competing for $25,000, and the early seed stage, for corporations trying to speed up progress, with a $50,000 prize.
Since its starting, Alabama Launchpad has funded 108 startups and invested greater than $5.8 million. Its successful corporations have a mixed post-money valuation of greater than $850 million and have generated upwards of 1,120 jobs throughout the state.
State lawmakers lately authorized laws for corporations that need to change into Alabama profit firms. In keeping with the state code, this will embrace corporations that profit the atmosphere, in addition to inventive, charitable, instructional, cultural, medical, spiritual, scientific or different pursuits.
Miller Girvin, govt vice chairman of innovation & expertise at EDPA, stated companies and entrepreneurs “who need to make a constructive distinction” will need to apply.
“So many entrepreneurs in Alabama are keen on each doing good in the neighborhood and doing properly on their steadiness sheets, and we’re excited to assist develop these corporations in our subsequent Launchpad cycle,” Girvin stated.
Startups and entrepreneurs making use of for the brand new Alabama Launchpad competitors should meet the requirements outlined within the new state profit company legislation concerning their enterprise fashions. Profit firms, often known as B Corps, are for-profit enterprises that even have a public profit as a part of their mission.
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